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Message:: [QUOTE="Rono, post: 1099267, member: 6492"]Howdy, The IRS considers any gains from asset sales a taxable event.  Heretofore, they're accounting abilities were limited due to technology.  These days with computers and digital records of most everything OF COURSE THEY WANT TO TAX THE PROFITS FROM YOUR COIN SALES.     The big buyes and sellers have been reporting, but many individual collectors have not.  We sort of slide by on the 'garage sale' exemption.  The IRS let's you sell stuff in a garage sale manner and not have to report.  That said, anything you sell for a profit is subject to tax.  Period.   This is going along with the 1099 reporting that got slipped into the Health Care pkg.  Staring next year, any sale of anything for $600 or more will require a 1099 to be submitted to the IRS with the buyer and seller noted.    And in keeping with this same trend, all brokerages are having to collect cost basis data from customers for legacy stocks that were rolled into the new brokerage account.   So, the great inventory or our financial assets is underway. enjoy, rono[/QUOTE]